If you have a new idea and dream of running your own company, you have come to the right place with our list of the best places for startups in the UK.
Starting your own business, especially with a new idea, requires a lot of time and energy. After a while, it essentially becomes your whole life. However, if your business does well, there is nothing that compares to the sense of accomplishment you will receive from it. Even working for a startup, being there in the early stages of the company and watching it grow can be an interesting and unique experience. Due to the fact that everything is new, employees need to be really flexible and ready for constant changes to figure out what does and what doesn’t work. However, new ideas are usually always welcome and there is no traditional way of doing things, which can allow you to unleash your own entrepreneurial spirit and creativity.
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If you are looking for the right place for you to start your business, you should check our list of 10 best cities for startups in the US.
There’s a lot to take into account when finding a place to establish your startup. For beginners, it’s best to be in a city, where there are more resources, ideas, and connections at your fingertips. And obviously, some cities are better than others depending on the type of company you are creating, which is why most tech startups head for the hills of Silicon Valley, in the U.S. If you’re in the United Kingdom, there are certain cities where you want to go, so your startup has the best resources around. Business is currently booming in the United Kingdom. According to The Telegraph, 80 new companies were born every hour in 2016, breaking a record in the country. Some of the country’s leading startups focus on fashion and technology.
In order to create our list of best places for startups in the UK, we used Startups as our source to see what are the best areas in the United Kingdom for startups. To rank the places, we took a look at each city’s business population, the number of new startups, business closures, business survival rate and the property prices. At the end, with the help of these parameters, we calculated how good one city is for startup and sorted the list in ascending order.
Let’s take a look at the best places for startups in the UK.
10. Glasgow
Business population: 19,280
Number of new startups: 2,880
Business closures: 2,290
Survival Rate: 38.7%
Property prices: £140,426
In the last couple of years, Glasgow became one of the best places for startups, especially those tech related, and it didn’t take long for it to become a tech hotspot. After winning the technology award of £24 million from Technology Strategy Board’s Future Cities Demonstration Competition, Glasgow was granted the “Smart City” status. After winning this award, the Glasgow Council decided to give everything in its power to make this city a better place for living and working. Glasgow is leaning towards showing the world how future cities will work and function.
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9. Cardiff
Business population: 11,515
Number of new startups: 1,835
Business closures: 1,105
Survival Rate: 40.4%
Property prices: £154,197
The traditional and professional service sector in Cardiff is well-developed considering the banks, the pensions, and the insurance brokers that are successful businesses. However, like in the whole world, the technology businesses are taking over Cardiff and they are growing their range of support. Last year the UK Government agreed on a partnership with Cardiff Capital Region of £1.28 billion to invest in infrastructure through a 20-year investment fund. This will significantly improve the city’s connectivity and physical infrastructure.
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8. Birmingham
Business population: 33,870
Number of new startups: 5,295
Business closures: 3,925
Survival Rate: 36.3%
Property prices: £234,770
Birmingham is one of the cities with the highest number of new startup businesses and it could easily turn out to be an entrepreneur hotspot. Birmingham has one of the most active business populations, and it has good transport links to one of the largest business conference venues, the National Exhibition Centre. The Birmingham City Council is one of the main sources, which is financing small businesses to help them grow. All you have to do is prove that your business will open new job positions and you can get the money for your startup.
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7. Sheffield
Business population: 16,320
Number of new startups: 2,225
Business closures: 1,755
Survival Rate: 41.8%
Property prices: £125,832
Sheffield was rated as the number one enterprise zone in the United Kingdom for modern manufacturing and technology by the Financial Times fDi magazine. This is one of the main metropolitan centers and it established itself as an enterprise center. The city of Sheffield has great transport links close to the M1 and the Robin Hood Airport. These are just a few reasons why many new entrepreneurs are choosing to start their businesses in Sheffield, and so should you.
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6. Manchester
Business population: 19,965
Number of new startups: 3,525
Business closures: 2,590
Survival Rate: 35.9%
Property prices: £238,050
Manchester has one of the highest startup rates in the northwest and the plan is underway to turn this beautiful city into the “Shoreditch of the North”. Manchester is offering unrivaled access to young and talented people with the biggest university campus in Europe and a strong business support package. In a city with a population of 500,000 people and the largest startup rate, there are plenty of thirsty entrepreneurs making it one of the leading startup hubs. Clearly, this city has a lot to offer and it is no wonder why many business people are choosing it.
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5. Cambridge
Business population: 5,130
Number of new startups: 670
Business closures: 515
Survival Rate: 49.4%
Property prices: £217,252
Cambridge, has a world class university and a great high tech community, landing it on our list of best places for startups in the UK. These are just two reasons of the many as to why people are choosing to start their business in Cambridge. The University of Cambridge is giving the young graduates the opportunity to work in a great environment while significantly contributing to making the business successful. Also, there are top-class support services for high-technology businesses. Going through the city is easy since they have great transportation links.
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4. Leeds
Business population: 27,625
Number of new startups: 4,275
Business closures: 2,725
Survival Rate: 41.8%
Property prices: £234,920
It is said that Leeds, the next one on the list of best places for startups in the UK is the United Kingdom’s main financial center outside of London, and it generates 4% of the United Kingdom’s output. This city is perfect for those businesses that are looking to access local and wider market opportunities because it has great transport links. It is close to Manchester, Sheffield and the Leeds Bradford International Airport. With the growing population of financial service businesses, the city is the UK’s major financial center and it represents a good opportunity for businesses that are looking for lower costs of living and a less saturated market.
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3. Edinburgh
Business population: 19,140
Number of new startups: 2,765
Business closures: 1,865
Survival Rate: 37.2%
Property prices: £228,240
Edinburgh is a thriving center for science, technology, and fast-growth startups. It is the home of the country’s leading science parks, research centers and emerging startups. If you combine the growing business community and the casting number of startup premises, Edinburgh is offering a great central point of travel to client meetings. Edinburgh has great transport links and it is close to the smart city, Glasgow, and the Edinburgh International airport.
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2. Oxford
Business population: 5,050
Number of new startups: 660
Business closures: 445
Survival Rate: 44.7%
Property prices: £296,476
Oxford, the number two on our list of best places for startups in the UK is bursting with talent and business support thanks to the esteemed university. This is one of the oldest and most prestigious seats when it comes to learning in the world. Those businesses which are based in knowledge like engineering, science or aerospace are looking to call Oxford home, to find the needed expertise, collaboration opportunities, and infrastructure in this city. The university is connected with business activities in the city and many startups have had success after they began, as spin-outs from this institution.
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1. Bristol
Business population: 18,280
Number of new startups: 2,805
Business closures: 1,715
Survival Rate: 43.4%
Property prices: £412,090
At number one on our list of best places for startups in the UK we have Bristol that is the home to more than 20,000 businesses and it ranked the highest on our list. Bristol has a very skilled labor force, broadband speed, and above average business survival rate. Bristol has one of the best universities, University of Bristol and the University of the West of England. They both are collaborating with businesses and they are offering support to place graduates. Bristol also has a funding option for new or moving startups providing amount between £10,000 and £80,000 to businesses which will generate job creation and economic growth.
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This was our list of the best places for startups in the UK. We hope we managed to show you which are the best places or even help you decide where to launch your business.
